The UK government's pledge to generate up to £8bn of public and private investment in Africa is the latest example of a trend where governments are turning to innovative finance, mobilising the private sector to make their development funds achieve larger impact.

Chinese President Xi Jinping on Monday pledged $60 billion in financing for projects in Africa in the form of assistance, investment and loans, as China furthers efforts to link the continent's economic prospects to its own.

China’s President Xi Jinping pledged $60 billion in financing for Africa’s development and waived some debt owed by the continent’s poorest countries, batting away criticism that Chinese investments may be exacerbating a looming African debt crisis.

While US politicians are ringing alarms about over-reliance on Chinese financing, analysts who study Sino-Africa relations see fresh opportunities for African leaders to negotiate deals that better serve their countries’ interests.

Chinese President Xi Jinping told African leaders on Monday that China's investments on the continent have "no political strings attached" and are not for “vanity projects”, even as Beijing is increasingly criticised over its debt-heavy deals abroad.

UK aid will help over 11 million people living off the grid access clean energy. UK aid is supporting the growth of innovative solar technology companies which are providing clean energy to off-grid households in Africa.

By leaving the EU, the UK will soon have the freedom to make new alliances — no longer bound by its role as the most reluctant member of a 28-nation bloc. The opportunity is to treat African nations as partners and equals, not as risks or charity cases.

Africa has emerged as a hotbed for solar investment. In the last three years, solar has been one of the most popular sectors for development institutions and private sector investors targeting areas with significant potential for social and economic returns.

China and Africa have, in recent years, made important progress from a batch of big projects thanks to their mutual efforts in expanding cooperation fronts and deepening collaboration in infrastructure construction.

Beijing will adopt a more sustainable model for debt with African countries, a senior Chinese official said in an apparent bid to address growing criticism of the country’s global infrastructure drive.

The UK aims to generate up to £8 billion of vital public and private investment in businesses and infrastructure across Africa, to create jobs and boost growth over the next four years.This includes setting a clear ambition of mobilising £4 billion of private sector investment into the continent by working more closely with the City of London.